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49 North Resources Re-Enters Second Oil Well at Riverside Property

49 North Resources has reported that Allstar Energy, its 100% owned subsidiary, has effectively re-entered the second well at its Riverside lands, purchased by Crown in Saskatchewan. Heavy oil has been produced in the well at a steady rate of 60-70 barrels of oil per day (bopd).

According to Allstar’s CEO and President, Mr. Ashley Drobot, targeted formation has been executing beyond preliminary expectations after eliminating the deserted plug and preparing the well bore for pumping. The first 24-hr pump tests were previously carried out at the second well, similar to the first re-entry well during the campaign. Then, the second well was eventually limited and generated a steady rate of about 60-70 bopd. Recently, Allstar raised this well’s pump rate to about 100 bopd as a result of favourable fluid and pressure levels in the well bore.

Extensive land base has placed Allstar as a leading firm to develop the wide heavy oil prospect. Allstar has integrated new pumping equipment and techniques, which have demonstrated to greatly enhance production and operations over former activities in the region.

The adjacent Mantario oil field, which is located 20 km towards the northern part of the Riverside property, has been generating heavy oil since the early 1990s together with increasing production of more than 47 M bopd. Oil is continuously generated in the fields through secondary recovery methods like polymer and water flooding.

Currently, Allstar has about 31,360 ac, collectively called as the Riverside properties, near Saskatchewan. The company possesses exclusive permits for exploration and expansion, wherein the permits enclose about 58,000 ac of highly potential heavy oil, Viking oil and Viking gas land areas situated in West Central Saskatchewan.

Source: http://www.fnr.ca/

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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